Hyperliquid Strategies (NASDAQ:PURR) Shares Gap Up – Time to Buy?

Hyperliquid Strategies Inc (NASDAQ:PURR) gapped up before the market opened on Friday . The stock had previously closed at $7.56, but opened at $8.03. Hyperliquid Strategies shares last traded at $7.7760, with a volume of 2,294,829 shares changing hands.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on PURR shares. Chardan Capital restated a “buy” rating and issued a $9.75 price target on shares of Hyperliquid Strategies in a research report on Friday, June 12th. Maxim Group started coverage on shares of Hyperliquid Strategies in a research report on Friday, April 24th. They issued a “buy” rating and a $10.00 price target for the company. Weiss Ratings upgraded Hyperliquid Strategies from a “sell (d)” rating to a “sell (d+)” rating in a report on Wednesday, June 3rd. Finally, Cantor Fitzgerald lifted their price objective on shares of Hyperliquid Strategies from $8.00 to $18.40 and gave the company an “overweight” rating in a research note on Wednesday, July 1st. Three equities research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $12.72.

Hyperliquid Strategies Price Performance

The stock has a market capitalization of $1.09 billion, a price-to-earnings ratio of -1.03 and a beta of 1.66. The business has a 50-day moving average price of $8.17.

Hyperliquid Strategies (NASDAQ:PURR) last released its quarterly earnings data on Thursday, May 7th. The company reported $1.01 earnings per share (EPS) for the quarter. The firm had revenue of $2.63 million for the quarter. Sell-side analysts predict that Hyperliquid Strategies Inc will post 2.1 EPS for the current fiscal year.

Institutional Trading of Hyperliquid Strategies

A number of large investors have recently bought and sold shares of PURR. Militia Capital Management LLC bought a new stake in shares of Hyperliquid Strategies in the 1st quarter worth about $3,323,000. OLP CAPITAL MANAGEMENT Ltd acquired a new stake in shares of Hyperliquid Strategies in the first quarter valued at approximately $10,459,000. Bank of America Corp DE increased its stake in shares of Hyperliquid Strategies by 896.4% in the 1st quarter. Bank of America Corp DE now owns 238,080 shares of the company’s stock valued at $1,212,000 after buying an additional 214,187 shares during the period. Maplelane Capital LLC acquired a new stake in Hyperliquid Strategies in the first quarter worth about $2,927,000. Finally, Galaxy Digital Inc. acquired a new stake in shares of Hyperliquid Strategies during the 1st quarter worth approximately $4,581,000. 9.45% of the stock is currently owned by institutional investors.

About Hyperliquid Strategies

Hyperliquid Strategies Inc is a digital asset treasury company whose primary focus is to maximize shareholder value through accumulating HYPE, the native token of Hyperliquid, a high-performance blockchain custom-built to house all of finance. Hyperliquid Strategies Inc, formerly known as Sonnet BioTherapeutics Holdings Inc, is based in NEW YORK.